How much home does $390,000 buy?

July 21, 2017
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The home at 4001 Moss Creek Dr was initially listed for sale at $410,000 on May 9, 2017. They didn’t get the response they were hoping for with a multiple offer situation and decided to reduce their price to $405,000 on May 24th. On May 30th they dropped the price again to $399,500.

This is a big house in a great location. The problem is that the home was listed at a premium price and showing in much less than premium condition. The first impression you got was from all the dead spots in the lawn as you approached the front door. 

The dishwasher apparently didn’t work and so the owners credited $300 towards the buyers closing costs to compensate for that. They also disclosed that the fireplace needs a new liner and should not be used until one is installed. 

A fair amount of drywall in the basement was pretty beat up and in need of repair. There were also a few drawers in the kitchen that are noticeably twisted and off track.   

With all of that for the new buyers to take care of it’s hard to think that $390,000 was a great deal but there was a lot of square footage here that had potential for improvement with some sweat equity. 

This property is Listed by Shorewood Real Estate